NEW YORK, Mar 15 (Reuters) - The Federal Reserve cut interest rates for the second time in less than two weeks on Sunday in an emergency move to help shore up the U.S. economy amid the rapidly accelerating global coronavirus pandemic.
In a statement, the central bank said it was cutting rates by to a target range of 0% to 0.25%.
The dollar fell against the euro and Japanese yen in response to the move. U.S. stock futures open at 6 p.m. EDT.
JUAN PEREZ, SENIOR CURRENCY TRADER | Monex, INC., WASHINGTON, DC
“Clearly the Fed feels that what the governments are doing are inadequate and not enough. So they’re throwing everything they can at this situation. But it’s going to be really volatile when markets open. The dollar will swing wildly. We’ll just have to see.”
